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Rostin Behnam, Chairman of the US Commodity Futures Trading Commission (CFTC), recently made a statement regarding the future of the cryptocurrency market.
He says he predicts we will witness another enforcement cycle in the crypto space in the next 6 to 24 months. According to Behnam, this is due to the lack of a regulatory framework for the cryptocurrency sector, the appreciation of assets and the renewed interest of individual investors and entrepreneurs.
Behnam also said about the sustainability of digital assets: “There is a sustainability to this asset class. It is clear that there has been growth in the last six months, despite what happened in 2022.”
On the subject of crypto legislation, Behnam explained that bipartisan discussions are currently ongoing. “Bipartisan discussions are happening … slowly but naturally, and they are still ongoing,” he said.
Although Behnam acknowledges the legitimacy of the crypto asset class, he expects further enforcement actions due to a lack of regulatory clarity. “Given the legitimacy of this asset class aside,” Behnam said he expects there to be further enforcement action due to a lack of regulatory clarity.
At the end of his words, Behnam acknowledged that the market was growing and said: “Despite what happened in 2022, we have a growing market…”
*This is not investment advice.